Qualified Charitable Distribution (QCD)
A Qualified Charitable Distribution (QCD) is a direct transfer of funds from your IRA custodian, payable to Boykin Spaniel Rescue, Inc™. QCDs can be counted toward satisfying your required minimum distributions (RMDs) for the year, as long as certain rules are met.
While many IRAs are eligible for QCDs—Traditional, Rollover, Inherited, SEP (inactive plans only), and SIMPLE (inactive plans only)* —there are requirements:
Under certain circumstances, a QCD may be made from a Roth IRA. Roth IRAs are not subject to RMDs during your lifetime, and distributions are generally tax-free. Consult a tax advisor to determine if making a QCD from a Roth is appropriate for your situation.
While many IRAs are eligible for QCDs—Traditional, Rollover, Inherited, SEP (inactive plans only), and SIMPLE (inactive plans only)* —there are requirements:
- You must be 70½ or older to be eligible to make a QCD.
- QCDs are limited to the amount that would otherwise be taxed as ordinary income. This excludes non-deductible contributions.
- The maximum annual amount that can qualify for a QCD is $100,000. This applies to the sum of QCDs made to one or more charities in a calendar year. (If, however, you file taxes jointly, your spouse can also make a QCD from his or her own IRA within the same tax year for up to $100,000.)
- For a QCD to count towards your current year's RMD, the funds must come out of your IRA by your RMD deadline, generally December 31.
- Any amount donated above your RMD does not count toward satisfying a future year's RMD.
- Funds distributed directly to you, the IRA owner, and which you then give to charity do not qualify as a QCD.
Under certain circumstances, a QCD may be made from a Roth IRA. Roth IRAs are not subject to RMDs during your lifetime, and distributions are generally tax-free. Consult a tax advisor to determine if making a QCD from a Roth is appropriate for your situation.
Tax ID# 63-1260575
Planned Giving
Boykin Spaniel Rescue, Inc.
112 Hunter Ridge Drive
Spartanburg, SC 29316
877-523-3647
[email protected]
Boykin Spaniel Rescue, Inc.™ is a 501(c)(3) non-profit.
Planned Giving
Boykin Spaniel Rescue, Inc.
112 Hunter Ridge Drive
Spartanburg, SC 29316
877-523-3647
[email protected]
Boykin Spaniel Rescue, Inc.™ is a 501(c)(3) non-profit.
For more information about any and all of our Planned Giving Options, please complete the form below. One of BSR™'s team members will contact you!
If you have already named Boykin Spaniel Rescue, Inc.™ please let us know as well. We will add you to our Legacy Program! You will receive special updates on our dogs! (We promise, we won't fill up your inbox).
* Boykin Spaniel Rescue, Inc.™ does not provide legal, tax or financial advice. You are encouraged to consult your own professional advisors to make certain a specific gift under consideration is compatible with your nancial and charitable goals.